Why these suburbs are faring better than others as prices fall
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Property investors enjoyed capital gains of 1.67% over the last 12 months in DIAMOND CREEK, translating to lower returns compared with its peers in VIC.
Figures from the previous quarter show that capital gains for real estate buyers in DIAMOND CREEK are low, as opposed to average gains per annum over the past five years.
The suburb posted a 31.18% growth in median prices over a three-year period. This is considerably higher than the gains it recorded over the past year.
This number can mean, real estate investors could earn a rental income of $495 based on current median home prices for the suburb.
On average, rents on listings have reached the $495 mark, reflecting a 3.38% increase in returns based on the current median price in DIAMOND CREEK.
DIAMOND CREEK, 3089 ranks 415th in VIC in terms of median property value increase and capital gains, based on year-to-date figures.
While it ranks 309th on the list of best yielding suburbs for rental properties in VIC, posting a 3.38% return.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $762,500 | $592,800 |
| GROWTH REPORT | ||
| Median Quarterly | -4.69% | -1.28% |
| Median 12 month | 1.67% | -1.36% |
| Median 3 years | 31.18% | 17.98% |
| Median 5 years | 48.06% | 41.14% |
| 10 years average annual | 6.14% | 5.84% |
| Weekly media advert. rent | $495 | $420 |
| Time on Market | 39.6 days | 52.4 days |
| Gross Rental Yield Percent | 3.38% | 3.68% |
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